Market Brief / 24-11-2017

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US dollar remained subdued as the EUR/USD maintained its strength in face of upbeat Euro-Zone business data and growth in the German economy. ICE Dollar Index marked a day-low of 93.07.

EUR/USD pair is holding on the upside and is trading above its rising 50-period moving averages. RSI stands firmly above its neutrality level at 50.

As long as 1.1825 is not broken, look for a new challenge with target at 1.1885. Alternatively, below 1.1825, expect a return with target at 1.1765.

On the data slate there’s German IFO Business Climate; German IFO Expectations; German IFO Current Assessment; UK Loans for House Purchase; US Manufacturing PMI; US Services PMI and US Composite PMI.

My Personal Trading Plan
BUY EUR/USD @ 1.1820 OR BETTER – STOP @ 1.1765 – TARGET @ 1.1885
BUY GBP/USD @ 1.3300 OR BETTER – STOP @ 1.3265 – TARGET @ 1.3390
SELL USD/JPY @ 111.50 OR BETTER – STOP @ 111.90 – TARGET @ 110.65
BUY CL1217 @ 58.20 OR BETTER – STOP @ 57.70 – TARGET @ 59.65
BUY AUD/USD @ 0.7595 OR BETTER – STOP @ 0.7550 – TARGET @ 0.7685
BUY XAU @ 1288 OR BETTER – STOP @ 1280 – TARGET @ 1305
BUY XAG @ 16.90 OR BETTER – STOP @ 16.35 – TARGET @ 17.75

THE ABOVE BRIEF IS MY PERSONAL OPINION AND DOES NOT CONSTITUTE ANY PROMISES OR GUARANTEES OF PROFITS. TRADING IN CURRENCIES AND COMMODITIES ARE HIGH RISKS. YOU SHOULD NOT TAKE ANY MATERIAL POSTED AS RECOMMENDATION.

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